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Ceres capesize fixed on timecharter as spot market loses steam

Livanos-led Ceres Shipping has fixed one of its capesize bulk carriers on a five- to eight-month timecharter, according to Baltic Exchange data.

Phaethon booked  Red Sage (182,443 dwt, built 2015) on Friday at a rate of $10,500 daily. The cape was delivered to the charterer in Yantai, China on Saturday.

Meanwhile in the spot market, the Baltic Cape Index was the only bulk segment to show growth today, while smaller tonnages saw a slight decline.

The Baltic Dry Index fell to 796 from 804, which was the highest level seen since mid-October 2015.

Spot rates on the Baltic’s capesize benchmarks fell modestly on all routes except on backhaul runs and for voyages from Richards Bay to Rotterdam (C4) and Fangcheng (C15).

C4 was today assessed $0.020 higher than Monday at $5.545 per ton. Similarly, the C15 route to China grew by $0.006 at $7.779 per ton.

Today saw just three new capesizes reported fixed, which is the lowest number of reported cape fixtures seen in some weeks.

All three of today’s capes were fixed by Rio Tinto to carry iron ore from Dampier, Western Australia to Qingdao, China.


Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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